SPAIN / EUROZONE :VIDEO: Austerity Protests In 78 Cities; Valencia Loan Request Hits Euro And Stock Market.

http://www.euronews.com/2012/07/20/clashes-in-spain-as-thousands-join-anti-austerity-protests
       TO WATCH: 1:28 REPORT


     Massive protests were again held Thursday in Madrid, Barcelona and 76 other cities over new tax hikes...and 7% wage cuts...totaling E65 billion...imposed by the conservative PM Rajoy...to qualify for E100 bn in debt relief for Spain's banks.

     An estimated 100,000 gathered in Madrid alone.
     Even Spain's king has announced that he will take a 7% pay cut.

     Workers and union members...including firefighters...marched peacefully against the measures...but violence broke-out after dark...as anarchists set fires in garbage cans...and clashed with police...who responded with tear gas...and rubber bullets.

     A dozen arrests were reported in Barcelona...and 15 were detained in Madrid.
     At least 39 were injured in Madrid...including 10 police.


    ALSO:  Spain's 10-year-bonds shot past the untenable 7% level...to 7.28%...after it was revealed that heavily indebted Valencia province requested an unspecified loan.
    On that news...its stock market suffered its worst one day loss in 2 years...nearly 6%.
http://www.bbc.co.uk/news/business-18921663